Bitcoin (BTC) Holds Above $90K: Profit-Taking Intensifies

Bitcoin realizes $5.42 billion in profits, despite rising sell pressure, with a Sell-side Risk Ratio of 0.524%.

Technical Analysis:

- Crucial support/resistance level: $89,200.
- Network activity: Uptick in new and active addresses.
- Zero balance addresses remain flat.

On-Chain Metrics:

- 307,000 addresses accumulated BTC at $89,200.
- Net inflows: $128.46 million (potential selling pressure).
- Consistent negative netflows (May-August): Institutional accumulation.

Market Sentiment:

- Market optimism (profits > losses).
- Caution advised due to profit-taking.
- Regulatory policies and national debt may impact BTC.

Potential Outcomes:

- Sustained price near $90,000.
- Short-term correction.
- Continued outperformance against traditional assets.

Bitcoin's resilience above $90,000, despite rising sell pressure, suggests market optimism. Investors should monitor network activity, profit-taking.